Facts

Plaintiffs, Anil Sachan and his company, Orion Sachan Corporation, claimed damages in connection with a transaction for the purchase of a business called the La Mexicana Market. Specifically, the plaintiffs claimed that their agents and brokers, defendants Jay Kim and America Realty Investment, fraudulently and negligently concealed material information concerning the performance and value of the business, whether the business was in compliance with all applicable laws, and breached the fiduciary obligations and duty of loyalty that they owed to the plaintiffs.

The defendants denied those allegations and contended that they complied with all of their duties under the law.

Settlement Discussions

The defendants offered $15,000 one week prior to trial; and the plaintiffs countered at $350,000. The defendants withdrew the offer immediately prior to trial. The defendants increased their offer to $60,000 midway through the first week of trial.

Result

Plaintiff verdict for $717,500 ($678,000 economic and $39,500 non-economic).

Other Information

Motions for prejudgment interest and attorney fees and costs are pending. FILING DATE: June 30, 2006.

Deliberation

three hours

Poll

12-0

Length

five days